TUESDAY, 13 NOV 2018



Facebook Linked In Twitter

Christodoulides Expects Lute to Return to Cyprus

Lakkotrypis Calls for Promotion of Cyprus' Special Interests within EU Free Trade Agreements



Vessel Scuttled in Ayia Napa to Form Artificial Reef

Vessel Scuttled in Ayia Napa to Form Artificial Reef

An old war ship was scuttled off the off the coast of Ayia Napa on Saturday, to form a new artificial reef along the island’s seabed. 

The vessel, entitled Kyrenia, was donated by the Ministry of Defence. 

This is the fifth artificial reef to be created in Cyprus, following the scuttling of vessels in Paralimni, Paphos and Limassol,with an aim to reinforcing the diversity of Cyprus’ seabed diversity and enhancing the island’s diving tourism product. 

In statements made to the press following the event, Cyprus’ Minister of Agriculture, Rural Development and Environment, Nicos Kouyialis, noted that the sinking of the defunct boat took place in the context of the Government’s blue growth policy.

“Our goal is to enrich the tourist product, to give the opportunity to the residents of coastal areas to engage in other marine activities, to increase their income, and also to boost development in the coastal areas of Cyprus," he commented.

According to Mayor of Ayia Napa, Yiannis Karoussos, the new artificial reef is expected to attract in excess of 20,000 tourists to the area during the coming years and generate some €30 million in income from tourism as a result.

“Therefore, this is a worthy investment which must continue" to be developed, he concluded. 



Lakkotrypis Delighted with 2018 Performance and World Travel Market Meetings

The Minister for Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis concluded on ...

Lakkotrypis: Cyprus Reaches 4 Million Visitors in 2018

Cyprus is expected to reach 4 million tourists in 2018, with the Minister of Tourism ...

Annabelle Hotel: Popular Winter Destination in Paphos

The new rooftop lounge and bar Ouranos and Mediterraneo restaurant at Annabelle Hotel in ...



4th International Funds Summit: Panel Discussion on Latest Examples of the Use of Cyprus in the Alternative Investment Funds

The 4th International Funds Summit took place today 12th of November at the Hilton Park Hotel in Nicosia, and welcomed leading fund managers and administration ...

Anastasiades to brief National Council on Lute-Akinci meeting

The National Council, the top advisory body to the President on the Cyprus issue, convenes this morning in Nicosia, under the President of the Repubic Nicos ...

Moody’s: CBC Directive on Shell Companies Improves Anti-Money-Laundering Practices

Moody’s rating agency says that Cyprus Central Bank’s (CBC) new directive on shell companies is credit positive for Cypriot banks, because the ...

Exectus Ltd: A Complete Solution for Accounting, Auditing and Other Financial Services

Exectus Ltd announces the commencement of its operations in Cyprus from November 2018. Exectus holds the General and Audit practicing certificates from the ...

Pound Falls as Brexit Uncertainty Rises

The pound has fallen against the dollar amid political uncertainty as Prime Minister Theresa May struggles to broker an agreement on Brexit with her cabinet. ...

Alibaba Singles Day Sales Frenzy Surpasses Records

Alibaba invented the occasion to celebrate the unattached as an antithesis to the romantically involved on Valentine's Day. It is now the world's ...

Anastasiades has Brief Contacts with World Leaders in Paris

President of Cyprus Nicos Anastasiades had a series of brief contacts with world leaders in Paris, at the margins of events commemorating the centenary of the ...

US Assistant Secretary of State for Energy Resources to travel to Jerusalem, Nicosia and Cairo

The US State Department announced that Assistant Secretary of State for Energy Resources Francis R. Fannon will travel to Tel Aviv and Jerusalem; Nicosia, and ...